Pomerantz Law Firm Files Class Action Against Jasper Therapeutics Inc. and Executives Amid Allegations
In a significant legal move, Pomerantz LLP has filed a class action lawsuit against Jasper Therapeutics, Inc. (NASDAQ: JSPR) and several of its officers. The action is based on allegations of violations of the federal securities laws, impacting shareholders during the class period from November 30, 2023, to July 3, 2025, as well as concerns about the company's management and the clinical trials of its leading drug candidate, briquilimab.
The lawsuit was initiated in the United States District Court for the Northern District of California, under the case number 25-cv-08010. It is intended to represent a comprehensive class of investors who purchased or otherwise acquired Jasper securities within the specified timeframe. They are seeking recovery for damages attributed to the company's alleged misleading public statements and omissions surrounding its operations and compliance practices.
Investors looking to join the class have until November 18, 2025, to apply for the role of Lead Plaintiff. Interested parties can find further information and access a copy of the complaint through Pomerantz’s website or through direct inquiries to the firm.
Jasper Therapeutics, a biotechnology firm in the clinical stage, is working on therapies aimed at diseases driven by mast cells. This includes conditions like Chronic Spontaneous Urticaria (CSU) and asthma. The lead candidate, briquilimab, has been designed to inhibit stem cell factor (SCF) from activating the CD117 receptor, which plays a key role in mast cell survival. The company believes that targeting this pathway could significantly improve treatment outcomes for patients suffering from these conditions.
In early 2024, the company advanced its program by starting a Phase 1b/2a clinical study for briquilimab, focusing on CSU. Following the announcement of the first patient’s dosing, CEO Ronald Martell expressed strong confidence in the clinical team’s ability to navigate the trial phases. The excitement continued when Jasper initiated additional studies, including one for allergic asthma in December 2024.
Furthermore, in a move to support its operations and product developments, Jasper raised $50 million in financing, extending its cash runway into the latter part of 2025. However, despite these promising signals, underlying issues began to surface, raising questions about the adequacy of their manufacturing oversight and compliance with established good manufacturing practices (cGMP).
The lawsuit claims that throughout the class period, Jasper's executives issued materially misleading statements about the company’s operational controls and compliance with cGMP regulations. They allegedly failed to disclose significant deficiencies in the oversight of third-party contract manufacturers responsible for producing briquilimab. This lapse raised the risk of compromised clinical trial results, which could adversely affect regulatory approvals and market potential for the drug.
These allegations were publicly underscored when, in July 2025, Jasper reported complications from the BEACON study, attributing confounding results to a problematic drug product lot used in trials. This revelation triggered a severe stock price decline of over 55%, eroding investor confidence and propelling the lawsuit forward.
In the aftermath of these developments, market analysts reassessed Jasper's financial health, leading to downgrades and lowered target prices for its shares. This scrutiny intensified as the company announced critical reorganization measures aimed at extending its operational runway, including workforce reductions and the suspension of other clinical programs unrelated to CSU treatment.
Pomerantz LLP remains dedicated to advocating for investors impacted by securities fraud and violations of fiduciary duty. The firm, established over 85 years ago, has a strong track record of leading successful class actions and recovering damages for its clients.
The ongoing proceedings will closely monitor the company’s compliance with legal standards and its exploration of potential remedies for affected investors, reinforcing the essential balance in the biotech industry between innovation and regulatory adherence.
For further inquiries regarding the class action, interested individuals are encouraged to contact the firm for more information about participation and representation through the legal process.
Background of the Case
The lawsuit was initiated in the United States District Court for the Northern District of California, under the case number 25-cv-08010. It is intended to represent a comprehensive class of investors who purchased or otherwise acquired Jasper securities within the specified timeframe. They are seeking recovery for damages attributed to the company's alleged misleading public statements and omissions surrounding its operations and compliance practices.
Investors looking to join the class have until November 18, 2025, to apply for the role of Lead Plaintiff. Interested parties can find further information and access a copy of the complaint through Pomerantz’s website or through direct inquiries to the firm.
Company Overview
Jasper Therapeutics, a biotechnology firm in the clinical stage, is working on therapies aimed at diseases driven by mast cells. This includes conditions like Chronic Spontaneous Urticaria (CSU) and asthma. The lead candidate, briquilimab, has been designed to inhibit stem cell factor (SCF) from activating the CD117 receptor, which plays a key role in mast cell survival. The company believes that targeting this pathway could significantly improve treatment outcomes for patients suffering from these conditions.
In early 2024, the company advanced its program by starting a Phase 1b/2a clinical study for briquilimab, focusing on CSU. Following the announcement of the first patient’s dosing, CEO Ronald Martell expressed strong confidence in the clinical team’s ability to navigate the trial phases. The excitement continued when Jasper initiated additional studies, including one for allergic asthma in December 2024.
Furthermore, in a move to support its operations and product developments, Jasper raised $50 million in financing, extending its cash runway into the latter part of 2025. However, despite these promising signals, underlying issues began to surface, raising questions about the adequacy of their manufacturing oversight and compliance with established good manufacturing practices (cGMP).
Allegations of Misconduct
The lawsuit claims that throughout the class period, Jasper's executives issued materially misleading statements about the company’s operational controls and compliance with cGMP regulations. They allegedly failed to disclose significant deficiencies in the oversight of third-party contract manufacturers responsible for producing briquilimab. This lapse raised the risk of compromised clinical trial results, which could adversely affect regulatory approvals and market potential for the drug.
These allegations were publicly underscored when, in July 2025, Jasper reported complications from the BEACON study, attributing confounding results to a problematic drug product lot used in trials. This revelation triggered a severe stock price decline of over 55%, eroding investor confidence and propelling the lawsuit forward.
Response and Future Actions
In the aftermath of these developments, market analysts reassessed Jasper's financial health, leading to downgrades and lowered target prices for its shares. This scrutiny intensified as the company announced critical reorganization measures aimed at extending its operational runway, including workforce reductions and the suspension of other clinical programs unrelated to CSU treatment.
Pomerantz LLP remains dedicated to advocating for investors impacted by securities fraud and violations of fiduciary duty. The firm, established over 85 years ago, has a strong track record of leading successful class actions and recovering damages for its clients.
The ongoing proceedings will closely monitor the company’s compliance with legal standards and its exploration of potential remedies for affected investors, reinforcing the essential balance in the biotech industry between innovation and regulatory adherence.
For further inquiries regarding the class action, interested individuals are encouraged to contact the firm for more information about participation and representation through the legal process.
Topics Financial Services & Investing）
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